The apex court held that the Code isn’t a machinery for recovery though its usage in several perspectives still be within the nature of a recovery system.

In response to the damage done to the economy the Indian Government has placed certain embargoes and granted certain grace periods to help reduce the financial strain caused by the complete shutdown of the economy this includes the three month moratorium that has been given by the RBI regarding payments of EMI.

Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.